Moran owns a building he bought during year 0 for $180,000. He sold the building in year 6. During the time he held the building he depreciated it by $34,750.

What is the amount and character of the gain or loss Moran will recognize on the sale in each of the following alternative situations? (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable.)

1) Moran received $205,000. (Leave no answer blank. Enter zero if applicable.)

a) Total gain/loss recognized

b) Remaining 1231 gain/loss

2) Moran received $253,000. a) Total gain/loss recognized b) Remaining 1231 gain/loss 3) Moran received $143,000. (Leave no answer blank. Enter zero if applicable.) a) Total gain/loss recognized b) Remaining 1231 gain/loss